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Form 1099-INT

Form 1099-INT
Who needs it?
Investors who own a non-retirement deposit account and received $10 or more in taxable interest income.
When is it mailed by?
By the first business day on or after February 15.

Interest Income

Every shareholder, with certain exceptions defined by the Internal Revenue Code, who has received $10 or more in taxable interest income, is issued a Form 1099-INT. Form 1099-INT is also sent to account holders for whom backup withholding was taken on certain reportable transactions.

Form 1099-INT is provided by institutions that pay interest income, such as banks and other savings institutions, and summarizes your interest income for the year. If your account is invested in the Domini Deposit Account at PNC Bank, and your account received interest income of $10 or more during the year, you will be issued a Form 1099-INT

If you have one of the following types of accounts, you will not receive Form 1099-INT:

  • Individual Retirement Accounts and other tax-deferred accounts (including Roth and Traditional IRAs, Rollover IRAs, SEP and SIMPLE IRAs, Coverdell Education Savings Accounts and qualified tuition plan accounts)
  • Accounts owned by corporations, certified nonresident aliens and certain tax-exempt organizations

The interest income shown on Form 1099-INT is provided for reporting on your 2014 federal income tax return, even if you reinvested your income in the Domini Deposit Account at PNC Bank.